LONDON (Alliance News) - Two former members of Team17 Group PLC's management team have completed the sale of their entire holding in the company, Joh Berenberg Gossler & Co KG said on Friday.
Former chief financial officer Paul Bray and production director Kelvin Aston have together sold 8.6 million shares at a price of 245 pence per share through an accelerated bookbuild, for a total of GBP21.2 million.
Shares in the video game developer were up 1.6% at 254.00 pence on Friday.
The shares sold reflect a 6.6% stake in the company, and following the sale Bray and Aston will no longer hold a stake in Team17.
Berenberg acted as the sole bookrunner for the placing. Since the company itself was not a party to the placing it will not receive any proceeds from it.
Team17 (TM17)